Venezuela

In-depth country-focused analysis on Venezuela's economic, political and operational risk environment, complemented by detailed sector insight

Our comprehensive assessment of Venezuela's operating environment and the outlook for its leading sectors are formed by bringing together a wealth of data on global markets that affect Venezuela, as well as the latest industry developments that could impact Venezuela's industries. This unique integrated approach has given us an impeccable track-record for predicting important shifts in the markets, ensuring you’re aware of the latest market opportunities and risks in Venezuela before your competitors.

Venezuela Country Risk

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Core Views We expect economic growth to remain sluggish, characterised by a slowdown in private consumption, net exports, and investment. President Nicolás Maduro has consolidated his...

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Venezuela Industry Coverage (20)

Agribusiness

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BMI View:   Venezuela is on track to record another lacklustre year for agricultural production in 2014, as output price restrictions and soaring input prices are keeping a lid on investment in...

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Autos

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Vehicle sales in Venezuela declined 85.6% y-o-y, to 8,236 units, in the first six months of 2014 as the increasingly poor economic outlook impacts the sector. BMI is increasingly bearish on...

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Commercial Banking

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Commercial Banking Sector Indicators Date Total assets Client loans Bond portfolio Other Liabilities and capital Capital Client deposits Other...

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Consumer Electronics

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BMI View: T he push by the government to implement the 'fair price' law in H114, which restricts vendor margins to 30%, has worsened an already weak short - term outlook for the Venezuelan...

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Defence & Security

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Historically speaking, Venezuela is an insignificant player in the world arms market. It imports nearly all its weapons, and in fact has almost no indigenous defence production capability. Venezuela'...

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Food & Drink

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BMI believes that, given the substantial headwinds facing the Venezuelan economy, the country's real GDP will expand slowly over the coming years, at 0.8% in 2013 and 1.2% in 2014. Despite enormous...

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Freight Transport

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BMI View: As an important oil - exporting economy Venezuela retains substantial resilience despite recent economic mismanagement and heightened political risk. BMI 's view is therefore that...

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Information Technology

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BMI View: W e expect the Venezuelan IT market to   be a regional underperformer in 2014 and over the medium term. The outlook is weakened by several economic challenges including inflation...

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Infrastructure

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BMI View: We have revised down our forecasts to reflect a more aggressively deteriorating environment in Venezuela's construction sector. Although we anticipated a substantial decline in industry...

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Insurance

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BMI View :  This is BMI's first review of the insurance sector of Venezuela. Due to demand for health insurance, Venezuela ' s insurance sector is, by many metrics, surprisingly large and well...

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Medical Devices

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Espicom Industry View:   The Venezuel an medical device market   is hyper-inflated, ranking six th in the Americas region . It is projected to register a negative 2013-2018   CAGR due to...

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Mining

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BMI View: We expect uneven mining sector growth through 2018 across various countries within Ce ntral America and the Caribbean. The region has significant untapped mineral potential, though...

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Oil & Gas

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BMI View: Despite vast upstream potential and ambitious plans of the state-owned oil company PdVSA, we retain a cautious outlook for Venezuela's oil and gas sector. We expect Venezuela to...

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Petrochemicals

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Progress on expansion of the Venezuelan petrochemicals industry has been slow and undermined by the government's policy in upstream sectors that provide feedstock and its general indifference to...

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Pharmaceuticals & Healthcare

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BMI View: Price controls, high inflation, currency devaluation, import and foreign currency controls, as well as other structurally distorting policies in Venezuela will continue to plague the...

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Power

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BMI View:   This quarter our fundamentals for the sector remain virtually unchanged. Although the country had made some progress with regard to improving existing capacity and bringing new...

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Real Estate

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BMI View:   The short-term outlook for Venezuela's commercial real estate sector is bleak, as government policy, high inflation, exchange rate issues and lack of investment continue to afflict...

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Retail

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BMI View:   Rising incomes and an increasing number of middle class households make Venezuela's retail market attractive. However, these plus points are overshadowed by the uncertain business...

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Shipping

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Venezuela's fiscal deficit will narrow significantly in 2014 thanks to the government's greater purchasing power afforded by the ongoing devaluation of the currency. However, we have downgraded our...

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Telecommunications

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BMI View : While Venezuela has made headway into 4G with its recent 4G mobile licence tender, we remain bearish towards its impact on mobile broadband growth. U ncertainty regarding the...

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